1. To provide for higher education and research in all the subjects of folklore, literature, art, music, theatre, handicrafts, folk medicine, food, beverage, cottage industries etc., of Karnataka. 

2. To provide an opportunity for the study of the culture of Kannada speaking and other Dravidian languages speaking people and culture of the people and culture of the people speaking other languages. 

3. To provide for the study heritage of the indigenous/traditional knowledge with the awareness that “Indigenous culture is not monolithic but redemptively pluralistic”. 

4. To assist in the development of all neglected rural communities and tribes of Karnataka.

5. To strengthen the indigenous culture to face the challenges of globalization effectively.

6. This being the first folklore university in the world, it has to be promoted as a model university to all the countries particularly to the developing countries.

7. To collect, compile and publish the folklore of all the communities of different areas in Karnataka scientifically through extensive fieldwork.

8. To preserve the collected folklore materials through multimedia documentation in a systematic manner in digital form.

9. To collect the available materials used in the rural and tribal life in the different areas of Karnataka before they disappear and to exhibit them systematically in the indoor and outdoor exhibitions and to make those places attractive tourist spots.

10. To introduce folklore as one of the subjects of learning at schools, colleges and higher education centres and also to provide for research at the university level and to confer degrees. To educate interested people through distance education. 

11. To study folklore on multidisciplinary and interdisciplinary base and to promote research at higher levels. 

12. To make a comparative study of the folklore of different languages and communities of Karnataka.

13. To encourage comparative study of Karnataka folklore along with folklore of other states of India. Similarly to encourage the study of the folklore of South Asia and other nations of the world, particularly, the folklore of developing countries. To implement these objects to enter into an agreement with other University/research centres of the State of Karnataka, India and the world.

14. To facilitate translations of Karnataka folklore and significant folklore studies into English, Hindi and other Indian and foreign languages. And also to translate folklore texts and significant folklore studies available in other Indian languages and languages of the world into Kannada.

15. To establish Prasaranga for publication of diversities of folklore by the University. To publish books, newspapers, research papers and other publications through the Prasaranga. To propagate the folklore art and culture through multimedia. To arrange public lectures by scholars and artists to create awareness among the general public regarding folklore.

16. To make efforts, for promoting the cottage industries and professional skills, providing self-dependence and self-employment.

17. To provide financial security and facilitating markets for products of traditional crafts.

18. To impart essential education aimed at healthy and harmonious society by eradicating impertinent, unreasonable, inhuman and unscientific factors that may exist in the folklore.

19. To create self-confidence among the neglected communities by bringing them into the mainstream of the society through modern education. To establish a separate developing faculty for the purpose of maximum utilization of folklore in informal education, mass communication and rural development activities.

20. To formulate schemes related to the study of folklore and its implementation from time to time.